I TRANSFERRED Rs 6 LAKH FROM MY CITIBANK NRE ACCOUNT TO MY DOMESTIC SAVING ACCOUNT WITH STATE BANK PATIALA IN 2008. THE ENRY EXITS IN MY S.B.P. ACCOUNT PASS BOOK. I ALSO HAVE CRTIFICATE FROM CITI BANK IN THIS REGARDS.
I WANT TO TRANSFER THIS MONEY TO MY NRE ACCOUNT IN S.B. INDIA IN INR.
WHAT IS THE PROCEDURE?
IS IT COVERED IN NOT TAXABLE CATAGORY IN SHEDULE TO RULE 37/
DO I HAVE TO FILL FORM 15CA?
There would not be any tax on the amount as it was your money which was transferd from NRE to Savings and now remitted again from Savings to NRE. However if there is any income generated out of this funds which you want to transfer to NRE, then on such income, there would be taxation.
You would be required to file form 15CA for transfer,
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